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Proper business conduct requirement

Financial market legislation requires the senior executive officers of supervised entities to provide assurance of proper business conduct. The purpose of this requirement is to maintain public confidence in banks and institutions and safeguard the reputation of the financial sector. Assurance of proper business conduct covers matters of personal character and the professional qualifications required to properly manage a supervised entity. The principal criteria used in assessing a person's suitability are their past conduct in business and their past and present business activities.